Sorting Accounting Information: Income Statement
Versus Balance Sheet
Sort the following account titles according to whether they would appear on the income statement or the balance sheet:
|
Supplies expense |
Salaries payable |
|
Accounts payable |
Cost of goods sold |
|
Land |
Trucks |
|
Capital stock |
Sales revenue |
|
Interest earned |
Interest expense |
|
Accrued taxes payable |
Tax expense |
|
Interest payable |
Retained earnings |
|
Rent expense |
Rent revenue |
|
Cash sales |
Cash |
|
Depreciation expense |
Wages expense |